Retirements After Age 55 With 10 Years of Service Clause Samples

Retirements After Age 55 With 10 Years of Service. (a) For retirees who at the time of retirement are at least age 55 with at least ten years of service, but who do not qualify for a subsidized medical benefit per item 2 below, the Company will make available until age 65 coverage under plans providing benefits equivalent to the Health Net HMO Plan (effective January 1, 2006, the Health Net Charter HMO 20/500 Plan, subject to Article VII, Section 2) and the Delta Dental of New Jersey Premier Plan, Option B, applicable to bargaining unit employees, all at no cost to the Company. (b) For retirees who at the time of retirement are at least age 55 with at least ten years of service, but who do not qualify for a subsidized medical benefit per item 2 below, the Company will make available commencing at age 65 coverage under a Medicare supplemental plan that will provide with Medicare, if available, benefits equivalent to the Blue Cross 65 High Option Health Insurance Plan and Blue Shield 65-Plan 83 Health Insurance Plan at no cost to the Company.